Exim bank annual report

Bangko Sentral’s chatbot, reporting system bag prizesTHE Bangko Sentral ng Pilipinas (BSP) has bagged two international awards for its financial technology (fintech) and regulatory technology (regtech) initiatives. In a statement on Thursday, the central bank said it was the only institution to win in two categories — Artificial Intelligence Initiative and Data Management Initiative — during the Central Banking Fintech and Regtech Global awards in Singapore on September 4. “The BSP’s regtech journey has just begun. As with any initiative, we did not imagine receiving [any] recognition or award when BSP embarked on this journey,” Bangko Sentral Governor Benjamin Diokno was quoted as saying in his acceptance remarks.“The initiatives were born from [the] BSP’s commitment to continue building its digital capabilities as a regulator intent on promoting innovations in the financial service sector to benefit the country and the people,” he … [Read more...] about Bangko Sentral’s chatbot, reporting system bag prizes

BEIJING/HONG KONG: China is sharpening its scrutiny of small banks' shareholders amid fears that loans from the lenders to big investors could prove a weak point in the country's financial system, jolted by the state's weekend rescue of one lender and recent takeover of another.While nominally small, China's numerous small city commercial banks risk having outsized significance because of their close ties to the rest of the banking system as well as with bigger shareholders, many of whom are giant companies.Earlier this month, the China Banking and Insurance Regulatory Commission (CBIRC) asked banks and some other financial firms for details of any investor building up stakes of 5per cent or more without required regulatory approvals.The regulator also asked the firms if they had disclosed all business transactions with their main owners, according to a regulatory notice seen by Reuters.Regulators have also conducted spot checks at some smaller banks in the last two months to probe … [Read more...] about China probes small bank shareholdings as risk worries persist

FRANKFURT: The Qatari-backed lawyer tasked with trying to draw a line under Deutsche Bank's regulatory scandals has risen rapidly at the German bank, jumping to the management board after three years as a "sparring partner" on the bank's supervisory body.Deutsche Bank is desperate to clean up its act and restore its reputation after years of turmoil including the Libor rate-rigging scandal and money-laundering investigations, and Stefan Simon has an intimate knowledge of the bank's rocky relationships with regulators and courts.The enigmatic corporate lawyer will soon be sitting on Deutsche's management board, promoted from its external oversight board as part of a 7.4 billion euro (US$8.3 billion) overhaul which will see the bank shrink and lose 18,000 jobs.Simon joined Deutsche's supervisory board three years ago, with the backing of the lender's largest shareholder, Qatar. He played an influential role on that board, impressed his backers and served on the very committee that … [Read more...] about New man on the board to clean up Deutsche Bank’s act

LONDON: Bank for International Settlements (BIS) chief Agustin Carstens has urged top central banks to preserve their ammunition for more serious economic downturns rather than deplete it chasing higher growth.Presenting the annual report of the Swiss-based BIS, dubbed the central bank for the world's central banks, Carstens told reporters any easing needed to be considered carefully and done sparingly."We would stress that it is important to preserve some room for maneuver for more serious downturns," he said.That message comes just weeks before the U.S. Federal Reserve is expected to confirm a U-turn in global monetary policy and cut interest rates for first time since the financial crisis a decade ago.Japan and China have both signaled their readiness to ease further and the European Central Bank, which only halted bond buying in December, indicated this month that it could cut its rates even deeper into negative territory.While U.S.-China trade tensions have weighed on economic … [Read more...] about Preserve your ammunition, BIS urges top central banks

WASHINGTON: The World Bank slashed its global growth forecasts for this year in a report released on Tuesday (Jun 4) that portrayed a world gripped by deepening trade conflict, tumbling confidence and increasingly skittish investment.Although the global development lender currently expects a modest recovery 2020 and 2021, the bank said in its semi-annual report that a lot will have to go right for this to happen.Instead the growing risks suggest the outlook could instead grow darker still.The greatest danger on the horizon is the prospect of worsening trade clashes between major world economies - a spectre that rose again last week when US President Donald Trump announced fresh punitive duties on Mexican goods in a dispute over immigration policy.The world economy is now expected to expand by 2.6 per cent this year, three tenths of a percentage point lower than the January forecast, and well below the three percent growth seen in 2018, according to the Global Economic … [Read more...] about World Bank slashes 2019 growth as global trade slackens